Quote from: IHF on January 06, 2020, 11:40:03 AM

Quote from: redsun114 on November 27, 2019, 04:13:53 PM

But, simply adopting method of holding way of trading, you can solve all those mistakes.

I would say it depends on your goals. If you like trading you should do it but when efficiency in investing is your Nr1 goal, the buy & hold approach comes into play.

Also you should keep in mind: With cryptos you dont have any underlying upward current like in the stock market over the last 100 years yet. Stocks reflect at some point more than on another the steady grow in the economy and for good reason, stocks are company share. This is proven and logical. Crypto is a lot more speculative at this time and therefore my standpoint is, cryptos are especially good for Trading short term. High Volatility delivers lot of potential.

Bu you absolutely need to know, what you do as a trader. If not, then Buy & Hold is way better.

Of course it's a valid option to buy and hold some Bitcoins for long term investment anyway. Dont get me wrong!

Cheers...

This market is very attractive precisely because of that reason to traders, the volatility of the market can make you a lot of money if you know what you are doing, just yesterday the price of bitcoin moved 300 dollars in 15 minutes, and any trader that captured most of that movement made very good profits and depending where you live that could be the salary you receive in a week and in some cases in a month.

However as you say that volatility attracts a lot of traders but it also attracts many newbies which dream with leaving their jobs and making a lot of money when with their level of knowledge they should at best just buy bitcoin to hold it for the long term.